Income received from letting out of Property on a Commercial basis qualifies as Business Income: ITAT [Read Order]

Income received from letting out of Property on a - Commercial basis qualifies as Business Income - ITAT - TAXSCAN

The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) held that the income received from letting out of the property on a commercial basis qualifies as business income. The assessee earned income of Rs. 7,14,14,205/- from its mall operating business, and offered the same to tax as its business income. The assessee had also…

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